The Afghan government and the Islamic Development Bank singed an agreement for the loan of $74 million for the construction of Kabul Ring Road.

Mustafa Arya, the director of the grants consolidation in the ministry of finance, told reporters in Kabul that the agreement has been signed between the national economic council led by President Mohammad Ashraf Ghani and the Islamic Development Bank.

He said based on the agreement, the Islamic Development Bank will provide the amount on the basis of returnable loan so that the project can be implemented.

Arya further added that the ring road having a length of 95 kilometers will be completed over a period of five years.

According to Arya, other public welfare projects such schools and clinics will also be built along the ring road.